Housing costs for the average family in Attica that does not live in a property it owns have increased significantly: According to data processed by ReDataset of the Resolute group, the cost of renting (based on data from online ads) has increased by a percentage ranging from 9.6% in Paleo Faliro to 22.2% in Glyfada from the first quarter of 2023 to the same period this year.
Based on the areas examined by the company, the average monthly cost of rent starts at €820 in Kallithea and reaches up to €1,340 in the seaside Vari-Voula-Vouliagmeni area.
These prices concern apartments of 70-110 square meters, which typically suffices for the needs of a family of three or four. In central Athens, where interest is also high, the average rent being asked has reached €980, up 18% from €830 in the first quarter of 2023. However, taking into account the advanced age and poor condition of many of the apartments advertised, the cost of almost €1,000 is particularly high and difficult to sustain in the long term.
Besides, as ReDataset points out, 2023 seems to have been the last year in which rental prices recorded double-digit increases. Since then, in most areas, the rate of the hikes has dropped to single digits.
